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East Midlands Property Market 2016

Story Highlights

  • East Midlands in 2016 had total property sales of £18 billions.
  • The total number of properties sold in East Midlands in 2016 was 86,999
  • Across its counties total sales value was maximum in Leicestershire at £3.98 billions.
  • The average property price was £207 K and the median was £165 K
  • The average sales price at county level is maximum for Rutland at £298 K 
  • New properties contributed 11.02% by value and not new properties contributed 88.98%

 

East Midlands is one of the 9 principal areas of England. It consists of Derbyshire, Nottinghamshire, Lincolnshire, Leicestershire, Rutland, Northamptonshire

 

Total Sales By County

East Midlands - Total Sales By County

East Midlands in 2016 had total property sales of £18 billions. It is 6.05% of England and Wales Property Market 2016.

The split of £18 billions across its counties was:

Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • All counties had growth in total sales except Rutland
  • Rutland had a decline of 4.5% over 2015

 

 

Total Value of Sales By Property Types

East Midlands - Total Value of Sales By Property Types

The split of £18 billions across the different property types are:

  • Detached at £8 billions (44.49%)
  • Semi-Detached at £4.24 billions (23.58%)
  • Terraced at £3.14 billions (17.46%) 
  • Other at £1.86 billions (10.32%)  
  • Flat/Maisonette at £747 millions (4.15%)

Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • All property types have shown growth in total property sales value

 

 

Month-wise Break-up of Total Sales

East Midlands - Month-wise Break-up of Total Sales

Stamp Duty Hike Impact

  1. March had property sale spike of £2.27 billions compared to £1.2 billions in Feb
  2. The impetus for it was to avoid the extra 3% in Stamp Duty Tax applicable on buying an additional home, being applicable from April 1 2016

Brexit Impact

  1. Brexit took place on 23rd June 2016.
  2. As can be observed from the month-wise break-up there does not seem to have been dip in property sales in the immediate aftermath of Brexit 
  3. Year on year (compared to 2015)  the growth was 5.88%
  4. So Brexit did not seem to negatively impact East Midlands Property Market 2016.

 

 

Total Number of Sales By Property Types

East Midlands - Total Number of Sales By Property Types

The total number of properties sold in East Midlands in 2016 was 86,999.

The split is :

  • Detached at 29,340 (33.72%)
  • Semi-Detached at 26,058 (29.95%)
  • Terraced at 22,549 (25.92%) 
  • Flat/Maisonette at 6,132 (7.05%) 
  • Other at 2,920 (3.36%) 

Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • All the property types sales have shown growth except Detached, Terraced
  • Other has shown significant growth of 114%

 

 

Average & Median Sales Price 

East Midlands - Average & Median Sales Price

The average sales price in East Midlands was 207 K.

For the different property types it was

  • Detached at £273 K
  • Semi-Detached at £163 K
  • Terraced at £139 K
  • Flat/Maisonette at £122 K
  • Other it is at £636 K

Similarly the median sales price in East Midlands was 165 K

For the different property types it was

  • Detached at £245 K
  • Semi-Detached at £150 K
  • Terraced at £128 K
  • Flat/Maisonette at £110 K
  • Other it is at £190 K

Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • All property types have had increase in average and median sales prices except Other

 

 

Average & Median Sales Price By County

East Midlands - Average Sales Price By County

The average of sales price in East Midland at county level in 2016 is :

East Midlands - Median Sales Price By County

The median of sales price in East Midland at county level in 2016 is :

Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • The average and median price across all counties have gone up.

 

 

New Vs Not New Property Statistics

East Midlands - New Vs Not New Property Statistics

By Sales Value

  • Sales value contributed by New Property was £1.98 billions (11.02%)
  • where as Not New Property contributed £16 billions (88.98%)

By Number Of Sales

  • New properties sold were 8,644  (9.94%)
  • Not new property sold were 78,355 (90.06%)

 Year on Year Comparison : Compared to East Midlands Property Market 2015 in 2016

  • New property market share in property market has gone down in 2016 over 2015

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